Given That All Countries Have the Same Cobb-Douglas Production Function,i

question 106

Multiple Choice

Given that all countries have the same Cobb-Douglas production function,i.e.Y/N = (K/N) b,a ten-fold difference in per capita income requires a difference in capital per capita by a factor of

• A)10.
• B)10b.
• C)101/b.
• D)b.

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Definitions:

Democracy

A form of government in which power is held by the people, either directly or through elected representatives.

Postmaterialist Argument

This argument suggests that as societies become more economically developed, their citizens increasingly prioritize values such as environmentalism, equality, and personal freedom over material or economic concerns.

Liberal Democracies

Political systems characterized by free and fair elections, rule of law, protection of rights and freedoms, and the separation of powers.

Youth

The period of development from childhood to adulthood, often focusing on teenagers and young adults, and characterized by physical, psychological, and social changes.